From a technical perspective, HII is moving notably higher here with above-average volume. This move is quickly pushing HII within range of triggering a major breakout trade. That trade will hit once HII takes out its 2011 high of $42.71 with high volume. At last check, HII has hit an intraday high of $42.75 and volume is well above its three-month average action of 225,605 shares.

Traders should now look for long-biased trades in HII as long as it's trending above today's low of $41.66, and then once it sustains a move or close above $42.75 with volume that's near or above 225,605 shares. If that breakout triggers soon, then HII could be on its way towards $45 to $50.